Core Insights - Nine out of ten millennials face financial challenges such as high expenses, limited savings, and significant debt, which hinder their financial goals [2] Group 1: Retirement Savings - Millennials are advised to choose a student loan payment that fits their cash flow while allowing for retirement savings, avoiding high-interest debt [3] - A balanced payment strategy is recommended, with automation of small retirement contributions to ensure consistent progress [4] Group 2: Home Buying vs. Renting - Experts suggest that millennials should consider buying a home only if they have a comfortable budget and solid savings, as mortgage payments can be nearly 40% higher than average rents in many metropolitan areas [5][6] - Renting may be a more prudent choice, allowing for investment of extra cash instead of committing to the additional costs associated with homeownership [6] Group 3: Debt Management and Investing - Paying off high-interest consumer debt, particularly credit cards with rates of 20% or more, is prioritized over investing, as it represents guaranteed progress [8] - Establishing a strict budget that prioritizes essential needs is crucial for effective financial management [9]